Author: Jian Dan
On October 23, Angel Yeast (600298.SH) released its third quarterly report that in the third quarter of 2021, it achieved revenue of 2.360 billion yuan, up 13.22% year-on-year; achieved a net profit of 190 million yuan, down 35.23% year-on-year.
According to the third quarterly report, in the first three quarters of 2021, Angel Yeast achieved revenue of 7.594 billion yuan, up 18.17% year-on-year; achieved a net profit of 1.018 billion yuan, up 0.54% year-on-year.
(Source: Angel Yeast Announcement)
Angel Yeast said that in the third quarter of 2021, the price of molasses, chemical raw materials, energy and other prices increased significantly, resulting in a sharp increase in costs. In addition, its accrual of equity incentive expenses led to a decline in net profit.
According to the third quarterly report, as of September 30, 2021, Angel Yeast's monetary funds were 743 million yuan and short-term borrowings were 1.579 billion yuan.
Founded in 1986 and listed on the Shanghai Stock Exchange in 2000, Angel Yeast is a company engaged in the production, operation and technical services of yeast and yeast derivative products. The company's products are mainly used in baking and fermented pasta, food flavoring, microbial fermentation, animal nutrition, human nutrition and health, brewing and bioenergy and other fields.
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